M2 Group posts $100M underlying profit

Company News


M2 Group (ASX:MTU) says it achieved underlying net profit of $100 million on the back of a 9 per cent jump in revenue. 
 
The telecommunications provider saw 6 per cent growth in services after the acquisition of New Zealand’s CallPlus Group and the expansion of its Dodo business. 
 
The company is still predicting revenue growth of 24-26 per cent in spite of the recent tie up between rivals TPG and iiNet leaving M2 as the fourth placed internet provider behind Telstra, Optus and TPG. 
 
A final dividend of 17 cents fully franked took the full year payout to 32 cents, 23 per cent up on last year.